Good News! FHFA Announces New Home Loan Limits For 2022

If you are planning to buy or refinance a home next year, we have some great news for you. Due to the significant home-price gains that occurred during 2021, the Federal Housing Finance Agency has raised the conforming loan limit for 2022 for nearly all counties across the country. This means that homes you could previously only […]

Why Billionaire Warren Buffett Gives Mortgages a Thumbs Up

Warren Buffet describes the 30-year-mortgage as “the best instrument in the world.” He is one of the wealthiest and most successful investors in the U.S., yet he surprisingly took out a mortgage himself when purchasing a vacation home in 1971. When CNBC asked him why, he replied, “I thought I could probably do better with the […]

What to Expect From a Home Appraisal and Inspection

Home appraisals and inspections are necessary steps in the home buying process. A new home will likely be one of the largest financial decisions you make in your life. These two steps will provide you with critical information on your upcoming transaction. Here’s what to expect from a home appraisal and inspection and why they […]

You Are More Prepared for Homeownership Than You Realize

Homes are selling faster than ever at higher and higher prices. Should homebuyers give up in a market this competitive? These conditions are frustrating, but Federal Reserve Economic Data (FRED) shows that Americans are more financially prepared for homeownership than they might realize. Here are three ways financial well-being has improved and how a payment […]

Is Housing Really Less Affordable Today?

Home prices are appreciating fast. Over the past year, they went up a staggering 16%. A number that can be discouraging to many first-time home buyers. But if we compare today’s prices with historical data, the current housing market has remained more affordable and, if you adjust for inflation, less expensive than most times in […]

How Homeowners Can Destroy Their Debt With Inflation

When someone buys a property, they often only consider the initial cost. What if you were able to fast forward 20-years? That initially shocking purchase price will likely look much more manageable. Here is the reason why: the cost of debt will remain constant while your income will likely go up and the loan balance […]

The Shocking Difference In Wealth Between Homeowners And Renters

Homeownership is an important cornerstone of building wealth. If financial security is important to you, owning a home and building equity should be a top priority. The Difference in Wealth Between Homeowners and Renters Every three years, the Federal Reserve sponsors a research program that looks at the net worth of homeowners in the United […]

An Increase In Affordable Housing Supply Is On The Way

On Wednesday, September 01, 2021, the White House announced immediate steps to increase affordable housing supply for Americans. The plan will focus on boosting home sales to individuals and non-profit organizations, while limiting sales to large investors, who scooped up one in six homes sold in the second quarter of 2021. The Problem Demand for housing soared […]

Why Are Home Appraisal Costs So High Today?

If you are buying a home today, you need to be prepared to pay more for your appraisal than you originally anticipated. That is simply the nature of the current housing market. Mortgage lenders everywhere are raising fees in order to get the increasingly more limited supply of appraisers to accept their appraisal orders. Here […]